G E Shipping to sell 2005-Built Suezmax Crude tanker ‘Jag Lok’

The Great Eastern Shipping Company Limited (G E Shipping), a prominent player in India’s private shipping sector, has finalized the sale of its Suezmax crude oil tanker, Jag Lok, built in 2005. The vessel, which boasts a deadweight tonnage of approximately 158,280, is set to be delivered to an unaffiliated third-party buyer by the third quarter of FY26. This strategic move aligns with the company’s ongoing efforts to enhance its fleet by selling older vessels while acquiring newer ones.

Current Fleet and Future Acquisitions

Following the sale of Jag Lok, G E Shipping’s fleet now consists of 38 vessels, totaling a capacity of 3.04 million deadweight tonnage (dwt). This fleet includes 26 tankers, which are further categorized into five crude tankers, seventeen product tankers, and four LPG carriers. Additionally, the company operates twelve dry bulk carriers, comprising two Capesize, eight Kamsarmax, and two Supramax vessels. This diverse fleet structure enables G E Shipping to effectively navigate various shipping segments, ensuring operational efficiency.

In a bid to further bolster its capabilities, G E Shipping has also contracted to acquire two secondhand Kamsarmax dry bulk carriers and one additional Suezmax crude tanker. These new additions are expected to join the fleet by the third quarter of FY26. The acquisitions are part of G E Shipping’s strategy to strengthen its carrying capacity and expand its footprint in both the crude and dry bulk markets, positioning the company for future growth.